Prague—Global law firm Dentons has advised J&T IB and Capital Markets as arranger and J&T Banka as manager on a bond issuance by Pale Fire Financing with a total nominal amount of CZK 750 million (approximately €31 million) with an option to increase the issue size to up to CZK 1.5 billion (approximately €62 million).
J&T Banka also acted as fiscal and paying agent and security agent. The bonds are listed on the Prague Stock Exchange.
The bonds are secured by a financial guarantee provided by Pale Fire Capital SE, as guarantor, together with a complex security package, including pledges over bank account receivables, shares in the issuer and the guarantor, and investment shares in two sub-funds of Pale Fire Capital SICAV (Core and Growth).
Pale Fire Capital is a private equity investment group with a strong focus on supporting technological innovation across multiple industries.
The proceeds from the bond issuance will be used primarily to repay previously issued bonds.
Partner Tomáš Kafka commented: “We are delighted to have provided legal advice on this complex secured bond issuance that represents a very successful re-entry of Pale Fire Capital on the Czech bond market.“
Jan Černý of Pale Fire Capital stated: “For us, issuing bonds primarily represents a significant commitment to our investors, which is why it is essential to approach the entire process with the utmost responsibility and professionalism. We greatly appreciated having an experienced partner in Dentons who provided us with valuable advice and guidance throughout the process and helped us properly address all the legal and regulatory aspects of the issuance.”
Martin Kopecký of J&T IB and Capital Markets said: “We appreciate the trust that Pale Fire Capital placed in us in preparing this issuance. The result is a robustly structured transaction that provides the company with stable financing and investors with a transparent investment opportunity. We would like to thank the issuer, legal advisors and all other partners for their professional cooperation.
The Dentons team advising on the transaction was led by Tomáš Kafka, Partner, supported by Martin Fiala, Senior Associate, and Tomáš Husička, Junior Associate.
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